2024 Q2 Form 10-Q Financial Statement
#000103500224000022 Filed on April 25, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| Revenue | $34.49B | $31.76B |
| YoY Change | -0.06% | -12.84% |
| Cost Of Revenue | $33.05B | $29.78B |
| YoY Change | 4.83% | -7.33% |
| Gross Profit | $1.439B | $1.983B |
| YoY Change | -51.73% | -53.96% |
| Gross Profit Margin | 4.17% | 6.24% |
| Selling, General & Admin | $203.0M | $258.0M |
| YoY Change | -2.87% | 5.74% |
| % of Gross Profit | 14.11% | 13.01% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $696.0M | $695.0M |
| YoY Change | 4.04% | 5.3% |
| % of Gross Profit | 48.37% | 35.05% |
| Operating Expenses | $218.0M | $304.0M |
| YoY Change | -1.8% | 15.15% |
| Operating Profit | $1.221B | $1.679B |
| YoY Change | -55.74% | -58.47% |
| Interest Expense | $140.0M | -$140.0M |
| YoY Change | -262.79% | -195.89% |
| % of Operating Profit | 11.47% | -8.34% |
| Other Income/Expense, Net | $122.0M | $144.0M |
| YoY Change | 177.27% | 11.63% |
| Pretax Income | $1.203B | $1.683B |
| YoY Change | -55.72% | -58.2% |
| Income Tax | $277.0M | $353.0M |
| % Of Pretax Income | 23.03% | 20.97% |
| Net Earnings | $880.0M | $1.242B |
| YoY Change | -54.59% | -59.5% |
| Net Earnings / Revenue | 2.55% | 3.91% |
| Basic Earnings Per Share | $2.71 | $3.75 |
| Diluted Earnings Per Share | $2.71 | $3.75 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 327.0M shares | 332.5M shares |
| Diluted Shares Outstanding | 324.0M shares | 331.0M shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $5.246B | $4.917B |
| YoY Change | 3.37% | -10.94% |
| Cash & Equivalents | $5.246B | $4.917B |
| Short-Term Investments | ||
| Other Short-Term Assets | $696.0M | $695.0M |
| YoY Change | -9.73% | 3.58% |
| Inventory | $8.028B | $7.912B |
| Prepaid Expenses | ||
| Receivables | $13.15B | $12.15B |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $27.12B | $25.67B |
| YoY Change | 14.43% | 10.02% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $29.77B | $30.07B |
| YoY Change | -2.62% | -2.3% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $6.731B | $6.828B |
| YoY Change | 5.14% | 12.64% |
| Total Long-Term Assets | $36.50B | $36.90B |
| YoY Change | -1.28% | 0.16% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $27.12B | $25.67B |
| Total Long-Term Assets | $36.50B | $36.90B |
| Total Assets | $63.62B | $62.57B |
| YoY Change | 4.86% | 3.98% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $14.57B | $12.46B |
| YoY Change | 34.55% | 18.67% |
| Accrued Expenses | $1.065B | $2.416B |
| YoY Change | -57.79% | 106.85% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $995.0M | $853.0M |
| YoY Change | -16.6% | -32.19% |
| Total Short-Term Liabilities | $18.32B | $16.15B |
| YoY Change | 22.54% | 5.1% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $9.746B | $10.04B |
| YoY Change | -3.79% | -1.27% |
| Other Long-Term Liabilities | $2.077B | $2.297B |
| YoY Change | -6.15% | 0.22% |
| Total Long-Term Liabilities | $2.077B | $12.34B |
| YoY Change | -83.17% | 438.44% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $18.32B | $16.15B |
| Total Long-Term Liabilities | $2.077B | $12.34B |
| Total Liabilities | $20.40B | $36.52B |
| YoY Change | -41.42% | 106.81% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $47.05B | $46.52B |
| YoY Change | 10.68% | 13.64% |
| Common Stock | $6.936B | $6.923B |
| YoY Change | 0.58% | 0.57% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $25.44B | $26.06B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $63.62B | $62.57B |
| YoY Change | 4.86% | 3.98% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $880.0M | $1.242B |
| YoY Change | -54.59% | -59.5% |
| Depreciation, Depletion And Amortization | $696.0M | $695.0M |
| YoY Change | 4.04% | 5.3% |
| Cash From Operating Activities | $2.472B | $1.846B |
| YoY Change | 63.49% | -41.77% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $194.0M | $200.0M |
| YoY Change | 14.12% | -24.53% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$198.0M | -$437.0M |
| YoY Change | -44.85% | 10825.0% |
| Cash From Investing Activities | -$392.0M | -$637.0M |
| YoY Change | -25.9% | 16.03% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -1.547B | -1.644B |
| YoY Change | 1.64% | -17.72% |
| NET CHANGE | ||
| Cash From Operating Activities | 2.472B | 1.846B |
| Cash From Investing Activities | -392.0M | -637.0M |
| Cash From Financing Activities | -1.547B | -1.644B |
| Net Change In Cash | 533.0M | -435.0M |
| YoY Change | -198.89% | -166.01% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $2.472B | $1.846B |
| Capital Expenditures | $194.0M | $200.0M |
| Free Cash Flow | $2.278B | $1.646B |
| YoY Change | 69.75% | -43.34% |
Facts In Submission
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Earnings Per Share Basic
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Weighted Average Number Of Shares Outstanding Basic
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Earnings Per Share Diluted
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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-72000000 | usd |
| CY2023Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
36000000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-507000000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
659000000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5424000000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4862000000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4917000000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5521000000 | usd |
| CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="padding-left:18pt"><span style="color:#0070ab;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in these interim unaudited financial statements and accompanying notes. Actual results could differ from those estimates. On an ongoing basis, we review our estimates based on currently available information. Changes in facts and circumstances may result in revised estimates.</span></div> | |
| CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="padding-left:18pt;text-indent:-18pt"><span style="color:#0070ab;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">2. UNCERTAINTY</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In September 2022, California adopted Senate Bill No. 1322 (SB 1322), which requires refineries in California to report monthly on the volume and cost of the crude oil they buy, the quantity and price of the wholesale gasoline they sell, and the gross gasoline margin per barrel, among other information. The provisions of SB 1322 were effective January 2023.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In March 2023, California adopted Senate Bill No. 2 (such statute, together with any regulations contemplated or issued thereunder, SBx 1-2), which, among other things, (i) authorized the establishment of a maximum gross gasoline refining margin (max margin) and the imposition of a financial penalty for profits above a max margin, (ii) significantly expanded the reporting obligations under SB 1322 and the Petroleum Industry Information Reporting Act of 1980, which include reporting requirements to the California Energy Commission (CEC) for all participants in the petroleum industry supply chain in California (e.g., refiners, marketers, importers, transporters, terminals, producers, renewables producers, pipelines, and ports), (iii) created the Division of Petroleum Market Oversight within the CEC to analyze the data provided under SBx 1-2, and (iv) authorized the CEC to regulate the timing and other aspects of refinery turnaround and maintenance activities in certain instances. SBx 1-2 imposes increased and substantial reporting requirements, which include daily, weekly, monthly, and annual reporting of detailed operational and financial data on all aspects of our operations in California, much of it at the transaction level. The operational data includes our plans for turnaround and maintenance activities at our two California refineries and the manner in which we expect to address the potential impacts on feedstock and product inventories in California as a result of such turnaround and maintenance activities. The provisions of SBx 1-2 became effective June 26, 2023.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In September 2023, Governor Newsom directed the CEC to immediately begin the regulatory processes concerning the potential imposition of a penalty for exceeding a max margin and the timing of refinery turnarounds and maintenance. Consequently, in October 2023, the CEC adopted an order instituting an informational proceeding on a max margin and penalty under SBx 1-2, as well as an order initiating rulemaking activity under SBx 1-2. The CEC indicated in a November 2023 workshop that the latter rulemaking process will be focused on rules relating to the timing of refinery maintenance and turnarounds, as well as the standardization of data collection and reporting. It remains uncertain as to what extent any regulations will address the remaining reporting requirements under SBx 1-2.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">We continue to review and analyze the provisions of SBx 1-2 and the possible impacts to our refining and marketing operations in California. While the CEC has not yet established a max margin, imposed a financial penalty for profits above a max margin, or imposed restrictions on turnaround and maintenance </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">activities, the potential implementation of a financial penalty or of any restrictions or delays on our ability to undertake turnaround or maintenance activities creates uncertainty due to the potential adverse effects on us. Any adverse effects on our operations or financial performance in California could indicate that the carrying value of our assets in California is not recoverable, which would result in an impairment loss that could be material. In addition, if the circumstances that trigger an impairment loss result in a reduction in the estimated useful lives of the assets, we may be required to recognize an asset retirement obligation that could be material. Other jurisdictions are contemplating similarly focused legislation or actions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The ultimate timing and impacts of SBx 1-2 and any other similarly focused legislation or actions are subject to considerable uncertainty due to a number of factors, including technological and economic feasibility, legal challenges, and potential changes in law, regulation, or policy, and it is not currently possible to predict the ultimate effects of these matters and developments on our financial condition, results of operations, and liquidity.</span></div> | |
| CY2024Q1 | us-gaap |
Crude Oil And Natural Gas Liquids
CrudeOilAndNaturalGasLiquids
|
2366000000 | usd |
| CY2023Q4 | us-gaap |
Crude Oil And Natural Gas Liquids
CrudeOilAndNaturalGasLiquids
|
2223000000 | usd |
| CY2024Q1 | us-gaap |
Inventory Crude Oil Products And Merchandise
InventoryCrudeOilProductsAndMerchandise
|
3847000000 | usd |
| CY2023Q4 | us-gaap |
Inventory Crude Oil Products And Merchandise
InventoryCrudeOilProductsAndMerchandise
|
3790000000 | usd |
| CY2024Q1 | vlo |
Renewable Diesel Feedstocks And Products
RenewableDieselFeedstocksAndProducts
|
1051000000 | usd |
| CY2023Q4 | vlo |
Renewable Diesel Feedstocks And Products
RenewableDieselFeedstocksAndProducts
|
913000000 | usd |
| CY2024Q1 | vlo |
Ethanol Feedstocks And Products
EthanolFeedstocksAndProducts
|
300000000 | usd |
| CY2023Q4 | vlo |
Ethanol Feedstocks And Products
EthanolFeedstocksAndProducts
|
313000000 | usd |
| CY2024Q1 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
348000000 | usd |
| CY2023Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
344000000 | usd |
| CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
7912000000 | usd |
| CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
7583000000 | usd |
| CY2024Q1 | us-gaap |
Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
|
6000000000 | usd |
| CY2023Q4 | us-gaap |
Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
|
4400000000 | usd |
| CY2024Q1 | us-gaap |
Weighted Average Cost Inventory Amount
WeightedAverageCostInventoryAmount
|
1300000000 | usd |
| CY2023Q4 | us-gaap |
Weighted Average Cost Inventory Amount
WeightedAverageCostInventoryAmount
|
1500000000 | usd |
| CY2024Q1 | vlo |
Noncontrolling Interest Increase From Debt To Equity Conversion
NoncontrollingInterestIncreaseFromDebtToEquityConversion
|
457000000 | usd |
| CY2024Q1 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
147000000 | usd |
| CY2023Q1 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
152000000 | usd |
| CY2024Q1 | us-gaap |
Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
|
7000000 | usd |
| CY2023Q1 | us-gaap |
Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
|
6000000 | usd |
| CY2024Q1 | us-gaap |
Interest Expense
InterestExpense
|
140000000 | usd |
| CY2023Q1 | us-gaap |
Interest Expense
InterestExpense
|
146000000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1245000000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
3067000000 | usd |
| CY2024Q1 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
3000000 | usd |
| CY2023Q1 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
10000000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
1242000000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
3057000000 | usd |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
331000000 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
369000000 | shares |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
3.75 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
8.30 | |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1245000000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
3067000000 | usd |
| CY2024Q1 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
|
3000000 | usd |
| CY2023Q1 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
|
10000000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
1242000000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
3057000000 | usd |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
331000000 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
369000000 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
0 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
0 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
331000000 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
369000000 | shares |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
3.75 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
8.29 | |
| CY2024Q1 | us-gaap |
Contract With Customer Receivable Before Allowance For Credit Loss Current
ContractWithCustomerReceivableBeforeAllowanceForCreditLossCurrent
|
6788000000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Receivable Before Allowance For Credit Loss Current
ContractWithCustomerReceivableBeforeAllowanceForCreditLossCurrent
|
7209000000 | usd |
| CY2024Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
34000000 | usd |
| CY2023Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
40000000 | usd |
| CY2024Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | segment |
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
31759000000 | usd |
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
31759000000 | usd |
| CY2024Q1 | us-gaap |
Cost Direct Material
CostDirectMaterial
|
27682000000 | usd |
| CY2024Q1 | us-gaap |
Cost Of Goods And Services Sold Overhead
CostOfGoodsAndServicesSoldOverhead
|
1411000000 | usd |
| CY2024Q1 | us-gaap |
Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
|
683000000 | usd |
| CY2024Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
29776000000 | usd |
| CY2024Q1 | us-gaap |
Other Cost And Expense Operating
OtherCostAndExpenseOperating
|
34000000 | usd |
| CY2024Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
258000000 | usd |
| CY2024Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
12000000 | usd |
| CY2024Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1679000000 | usd |
| CY2024Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
144000000 | usd |
| CY2024Q1 | us-gaap |
Interest Expense
InterestExpense
|
140000000 | usd |
| CY2024Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1683000000 | usd |
| CY2023Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
36439000000 | usd |
| CY2023Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
36439000000 | usd |
| CY2023Q1 | us-gaap |
Cost Direct Material
CostDirectMaterial
|
30005000000 | usd |
| CY2023Q1 | us-gaap |
Cost Of Goods And Services Sold Overhead
CostOfGoodsAndServicesSoldOverhead
|
1477000000 | usd |
| CY2023Q1 | us-gaap |
Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
|
650000000 | usd |
| CY2023Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
32132000000 | usd |
| CY2023Q1 | us-gaap |
Other Cost And Expense Operating
OtherCostAndExpenseOperating
|
10000000 | usd |
| CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
244000000 | usd |
| CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
10000000 | usd |
| CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
4043000000 | usd |
| CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
129000000 | usd |
| CY2023Q1 | us-gaap |
Interest Expense
InterestExpense
|
146000000 | usd |
| CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
4026000000 | usd |
| CY2024Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
31759000000 | usd |
| CY2023Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
36439000000 | usd |
| CY2024Q1 | us-gaap |
Assets
Assets
|
62574000000 | usd |
| CY2023Q4 | us-gaap |
Assets
Assets
|
63056000000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-257000000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-2381000000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
356000000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
641000000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-86000000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
37000000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-130000000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-2269000000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-163000000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-61000000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
|
-102000000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
|
-23000000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
248000000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
116000000 | usd |
| CY2024Q1 | vlo |
Increase Decrease In Operating Capital Current
IncreaseDecreaseInOperatingCapitalCurrent
|
160000000 | usd |
| CY2023Q1 | vlo |
Increase Decrease In Operating Capital Current
IncreaseDecreaseInOperatingCapitalCurrent
|
534000000 | usd |
| CY2024Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
100000000 | usd |
| CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
82000000 | usd |
| CY2024Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
103000000 | usd |
| CY2023Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
616000000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
124000000 | usd |
| CY2024Q1 | us-gaap |
Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
|
29000000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
102000000 | usd |
| CY2023Q1 | us-gaap |
Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
|
27000000 | usd |
| CY2024Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
56000000 | usd |
| CY2023Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
49000000 | usd |
| CY2024Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
153000000 | usd |
| CY2024Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
186000000 | usd |
| CY2023Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
67000000 | usd |
| CY2023Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
47000000 | usd |
| CY2024Q1 | vlo |
Noncontrolling Interest Increase From Debt To Equity Conversion
NoncontrollingInterestIncreaseFromDebtToEquityConversion
|
457000000 | usd |
| CY2024Q1 | us-gaap |
Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
|
8461000000 | usd |
| CY2023Q4 | us-gaap |
Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
|
9218000000 | usd |
| CY2024Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
We do not require any collateral or other security to support derivative instruments into which we enter. | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false |
